Billionaire Charlie Ergen merging Dish and EchoStar to expand mobile and satellite telecom empire

Charles Ergen, chairman and co-founder of Dish Network Corp

Jonathan Alcorn | Bloomberg | Getty Images

Billionaire Charlie Ergen is consolidating his telecom empire, merging his companies DISH Network and EchoStar in an all-stock deal.

“This is a strategically and financially compelling combination that is all about growth and building a long-term sustainable business,” Ergen, chairman of both DISH and EchoStar, said in a statement.

As of Monday’s close, EchoStar had a nearly $2 billion market value, while Dish’s market value was just above $4 billion.

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